Sumitomo Mitsui Trust Group Inc. Raises Position in Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 46.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,487 shares of the company’s stock after purchasing an additional 10,047 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ARM were worth $4,503,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in ARM in the 2nd quarter worth approximately $33,000. ORG Partners LLC bought a new position in ARM in the 3rd quarter worth approximately $29,000. RiverPark Advisors LLC boosted its holdings in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares during the period. Mather Group LLC. bought a new position in ARM in the 2nd quarter worth approximately $41,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

ARM stock opened at $128.66 on Tuesday. Arm Holdings plc has a 1-year low of $55.27 and a 1-year high of $188.75. The business has a 50-day moving average price of $143.67 and a 200 day moving average price of $140.07. The company has a market capitalization of $134.81 billion, a P/E ratio of 214.44, a PEG ratio of 6.43 and a beta of 5.40.

ARM (NASDAQ:ARM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $810.03 million. During the same period last year, the business posted $0.36 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Arm Holdings plc will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of ARM in a report on Thursday, August 1st. Susquehanna raised their price target on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Raymond James began coverage on shares of ARM in a report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.